Ilmatar to construct a new wind farm with a long-term Power Purchase Agreement

Ilmatar continues to accelerate the building of renewable energy production in the Nordics and has decided to construct Korpilevonmäki wind farm located approximately 14 kilometers northeast of the center of Säkylä in South-West Finland. The construction work of the 38.4 MW wind farm will start immediately and planned commercial operation date is in the beginning of 2026.  

Once completed, the wind farm will have a production capacity of approximately 125 gigawatt-hours annually which equals to an electricity consumption of approximately 50,000 apartments or 6,250 electrically heated detached houses. This is one of the few decisions to start a new wind farm construction project so far this year in Finland.   

"We are growing and we will continue to accelerate investments to renewable energy in Finland and Sweden according to our strategy. Korpilevonmäki project is an example of this. The investment environment has not been the easiest, but we are not slowing down our investments. We have been successful in financing discussions and investors see the growing need for renewable energy," comments Juha-Pekka Weckström, CEO, Ilmatar Energy.  

Korpilevonmäki wind farm consists of six wind turbine generators, which will be delivered, installed and commissioned by Danish supplier Vestas. The contract also includes a full scope service availability agreement for 30 years with possibility to extend up to 35 years. Ilmatar acquired the project rights for Korpilevonmäki in 2021. According to company’s strategy, the wind farm remains in Ilmatar’s ownership throughout its lifecycle.  

"Korpilevonmäki is an extremely well-developed wind farm project with a high local acceptance. The local landowners started the development themselves and Ilmatar is now completing it. Our teams and advisors who have been involved in the preparations have worked hard and performed exceptionally well in challenging circumstances. Wind farm’s 250 m high turbines represent the most modern technology and are among the tallest ever built," says Erkka Saario, Vice President, Projects, Ilmatar Energy.  

Long-term Power Purchase Agreement in place 

Ilmatar has signed a 10-year Power Purchase Agreement (PPA) with Mondel?z International for the Korpilevonmäki wind farm.? Mondel?z International, a global snacking leader, is investing in renewable electricity sources across Europe, aiming towards a long-term goal of net zero greenhouse gas emissions across its full value chain by 2050. The Power Purchase Agreement (PPA) with Ilmatar contributes to this long-term goal. 

A PPA is a long-term electricity purchase agreement where typically, a large electric user or several smaller electricity users purchase a certain amount of electricity from electricity producer under the contract for example, for 10-20 years. The PPA provides both parties with predictability and stability. Ilmatar has signed six other PPAs previously.